ECONOMY
NERC Approves Increase in Electricity Tariff
The Nigerian Electricity Regulatory Commission ,NERC, has approved an increase in Electricity Tariff for Customers under the Band-A classification.
Customers will now pay N225 for kilowatt per hour from the current N66.
At a News Conference on the development, the Vice Chairman of the Commission, Dr Musuliu Oseni said, the hike became necessary, having received and reviewed applications for the increment by the Distribution Companies (DISCOs).
Dr Oseni pointed out that, the Commission had also downgraded some Customers on Band-A to Band-B due to non-fulfilment of the required hours of Electricity provided by DISCOs.
He attributed the increase in Electricity Tariff to current Inflation and high rate of Foreign Exchange explaining that, DISCOs had been mandated to set-up Rapid Response Team for effective service for Customers affected in the new Tariff.
The Vice Chairman of NERC also emphasised that, efforts were on to fast track roll out of Meters especially to Customers affected by the new Tariff.
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